India, also known as the Republic of India, is a country in South Asia. It is the seventh largest country by area and with more than 1.3 billion people; it is the second most populous country as well as the most populous democracy in the world.
India during the years of the British Raj, from 1858 to 1947. During this period, India’s share of the world economy collapsed from 24.4% in 1700 to 4.2% in 1950. India was a relatively urbanized and commercialized nation with a buoyant export trade, devoted largely to Cotton Textiles, but also including silk, spices, and rice. India was the world’s main producer of cotton textiles and had a substantial export trade to Britain, as well as many other European countries.
India’s Export to World
In recent years, India exported mostly pearls, precious and semi-precious stones and jewelry (16% of total shipments) mineral fuels, oils and waxes and bituminous substances (12%) vehicles, parts and accessories (5%) nuclear reactors, boilers, machinery and mechanical appliances (5%) pharmaceutical products (5%) and organic chemicals (4%).
India’s main export partners are: United States (15% of the total exports), United Arab Emirates (11%), Hong Kong (5%), China (4%), Singapore (4%) and United Kingdom (3%).
Exports from India increased 2.4% year-on-year to USD 27.1 billion in February of 2019, mainly due to engineering goods (1.7%) and drugs and pharmaceuticals (16.1%).The total value of exports (FOB) is US$ 294.364 billion. The total value of imports (CIF) is US$ 444.052 billion. Approx. 4,418 products are exported to 219 countries and Approx. 4,317 products are imported from 213 countries.
Imports to India declined 5.4% year-on-year to USD 36.3 billion in February of 2019, mainly due to oil (-8.1%), electronic goods (-6.5 %) and gold (-10.8 %). Imports in India averaged 8037.22 USD Million from Year-1957 until Year-2019, India main imports are: mineral fuels, oils and waxes and bituminous substances (27% of total imports); pearls, precious and semi-precious stones and jewelry (14%); electrical machinery and equipment (10%); nuclear reactors, boilers, machinery and mechanical appliances (8%); and organic chemicals (4%). India’s major import partners are: China (16% of total imports), the United States (6%), United Arab Emirates (6%), Saudi Arabia (5%) and Switzerland (5%).